India’s exports to China dipped by 22.44 per cent to USD 1 billion, while imports rose by 15.55 per cent to USD 10.8 billion in August, according to the commerce ministry data.
Cumulatively, in the April-August period this fiscal, exports to the neighbouring country dipped by 8.3 per cent to USD 5.8 billion while imports grew 10.96 per cent to USD 46.65 billion, leaving a trade deficit of USD 35.85 billion, the data showed.
The country’s exports to the US, the UAE, Singapore, Bangladesh, Australia, South Africa, France, Nepal, Belgium, and Turkey also declined during the month under review.
Tata Motors Shares Fall Over 9% In 5 Days; Stocks Continue To Trade In Red According to the data, India’s exports to the US declined 6.29 per cent to USD 6.55 billion while imports from that country dipped by 6.3 per cent to USD 3.82 billion in August.Wholesale Inflation Softens: WPI Drops To 1.31% In August
Also, imports from the UAE, Switzerland, Korea, Japan, Thailand, Vietnam and Taiwan, recorded growth.
According to the data, India’s exports to the US declined 6.29 per cent to USD 6.55 billion while imports from that country dipped by 6.3 per cent to USD 3.82 billion in August.
India’s exports to China dipped by 22.44 per cent to USD 1 billion, while imports rose by 15.55 per cent to USD 10.8 billion in August, according to the commerce ministry data.
Cumulatively, during the April-August 2024-25, exports to the US increased 5.72 per cent to USD 34 billion, while imports grew 3.72 per cent to USD 19 billion, leaving a trade surplus of USD 15 billion.
Similarly, the country’s imports from Russia dipped by about 40 per cent to USD 2.57 billion in August.‘After 10 Years Of NDA, This Is Not Acceptable’: Infosys Ex-CFO Mohandas Pai Bemoans EPFO Woes
Similarly, the country’s imports from Russia dipped by about 40 per cent to USD 2.57 billion in August. During April-August 2024-25, imports grew by 6.39 per cent to USD 27.35 billion, due to crude oil imports.
In 2023-24, the US was India’s largest trading partner, followed by China.
China was India’s top trading partner from 2013-14 till 2017-18 and in 2020-21. Before China, the UAE was the country’s largest trading partner. The US was also the largest partner in 2021-22 and 2022-23.
